Visibility is the current buzzword in the shipping industry today. It is tossed around as a solution to some of the current issues affecting the supply chain. But it is more than just a key word to rank for in Google. It is a critical component for 3PLs and Shippers, potentially having a huge impact on your company’s bottom line.
API technology solutions, like Banyan Technology’s LIVE Connect carrier-pricing platform, are the key to visibility in freight management because they integrate shipping, rating, and tracking functionality directly into companies’ existing platforms to share and transfer data. They also improve capabilities while minimizing human errors and delays in the manual transfer of data to supply chain partners, ultimately helping companies save money.
Let’s explore the top five ways API technology provides visibility that will impact your bottom line.
Real-Time Intel
APIs are seamless integrations that operate and update in real time. For example, as carrier rates change, Banyan’s LIVE Connect platform shares that information immediately through its API. This allows Shippers or 3PLs to access their preferred carriers’ rates in real time and on one platform.
Collaboration and Control
By transferring shipment data throughout the supply chain, each company along the way benefits with instant updates, tracking, and visibility. This is an opportunity to improve relationships and foster collaboration within the supply chain. It also gives you more control over your shipments by identifying any carrier disruptions in real time, reducing the possibility that those disruptions will impact your shipments and potentially save a lot of time and money in the process.
Agility
That level of visibility gives your company the ability to remain agile. Maneuvering through disruptions is easier when using an API technology solution. For example, because APIs are integrated into your systems problems can be managed quickly and even planned for. Collecting data from previous shipments helps you predict issues that may occur in the future to develop proactive solutions. This could save you a significant amount of money on supply chain interruptions.
Better Data
Using a technology solution, especially an API, gives you better data to extract and transfer into the supply chain process. You can evaluate carrier or lane performance, freight rates, delivery status and more. This will allow for better negotiating with carriers in the future as well as improved partner relationships as the information is tracked and shared.
Business Intelligence
Having access to data regarding all aspects of the shipping process in one place increases your knowledge to better make freight management decisions in the future. Supply chain visibility is critical for every point in the shipping ecosystem. As the industry continues to evolve, it becomes apparent that having visibility into the supply chain is necessary, and often, technology is the key to unlocking real-time visibility.
Contact Banyan Technology today to learn more about our easily integrated LTL freight pricing API technology.
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